Differentiating resources for competitiveness and key tot succes in the maritime co-insurance market
In this edition of the limelight series of the Rotterdam Maritime Business Services Community, Emiel Paaij and Harry Mulder elaborate on the most differentiating resources that make up the competitiveness of the DUPI Group and are key to success in the maritime co-insurance market.
Inhouse expertise, strong networks and powerful IT solutions are key to success
When asked about the most differentiating resources that make up the competitiveness of the DUPI Group, Emiel Paaij – Director Marine at DUPI Underwriting Agencies – and Harry Mulder – Client Director at BLAAK Underwriting Agencies, a DUPI Group subsidiary – reply decisively: inhouse expertise, being part of a strong network within the regional maritime cluster, and powerful IT solutions.
They consider these to be significant building blocks and key to success in the maritime co-insurance market. DUPI Group is a valuable contribution to the quality and richness of the available maritime business services in the Rotterdam region. Ultimately adding to the competitiveness of the entire maritime cluster and the position of Rotterdam as maritime capital of Europe.
DUPI was established in the late 1980’s as a niche P&I specialist. Since 2010 the company diversified and started to deliver underwriting services to maritime assets through co-insurance. Currently DUPI is the runner-up in the Dutch co-insurance market.
Knowledgeable underwriting and claim handling
DUPI Underwriting Agencies and BLAAK Underwriting Agencies act as agents for a cluster of various global insurers. In addition they provide knowledge and expertise to insurance companies that would like to serve the maritime industry but lack first hand industry expertise.
To the industry itself the companies provide tailormade solutions for underwriting a wide range of maritime assets. This creates maximum flexibility and differentiates the co-insurance market from regular insurance products. Co-insurance as a concept was first introduced when the VOC was formed. Because of the complexity and immense asset value within the maritime industry, risks are mitigated and spread between insurance companies.
Skilled, high-quality, with the right mindset
Apart from having a strong and connected maritime cluster, the region can rely on a skilled, high quality workforce with the right mindset. As Emiel Paaij states: “A combination that is extremely important to create sustainable competitive advantage. This is reflected in the quality of our support team for example. In terms of reaction time, drafting of policies and claims handling we have received international recognition for delivering services at the highest achievable level.” In addition the gentlemen stipulate that the industry should not underestimate the role of young professionals in their early thirties to strengthen its position and competitive edge. Paaij continues: “At DUPI we thrive on a workforce that is modest, hardworking, clever, and cooperative. Experts who rely on experience and knowledge.”
By operating out of Rotterdam and being part of the Rotterdam Maritime Services Community (RMSC) the sister companies have access to a vast network, and the opportunity to connect with a wide variety of clients and industry experts. Especially important for knowledge driven companies. The fact that all global insurance companies have an office in Rotterdam is also beneficiary.
Digitalisation and data intelligence
Emiel and Harry are confident that the Rotterdam region will remain an important transport hub. By focussing on digitalisation and data intelligence for example they try to prepare their products and organisations for the future. In fact DUPI already developed its own IT solution roughly 15 years ago. FrameStory Software is completely customised to their specific business needs. Creating independence and opportunities to serve clients quick and in a reliable manner. Access to sound management information and analysis is crucial. The system provides real time information and is highly flexible. When the COVID-19 measures prohibited employees to work from the offices, DUPI could rely on the IT infrastructure and conduct business as usual. Stipulating the importance of looking ahead and anticipating on (unforeseen) realities. The quote of famous Dutch poet, Lucebert: “All things of value are defenceless” (in Dutch: “Alles van waarde is weerloos”) was on top of the office for years and proved to be quite accurate. Unfortunately, it took a virus to stir up entire systems.